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Foreign investors bought $21 billion of peso debt in just six months through March.
It was the most since the 1960s when data compiling began.
The peso has grown by 9.4% in the past year.
“One of the reasons why foreign investors are coming is the currency,” said an observer. “There are still a substantial amount of foreign flows coming in. There is still a lot of room for the peso to appreciate.”
Mexico projects 5% growth this year...after 5.4% pace in 2010.
Annual inflation slowed to 3.3% in mid-May from 4.4% in 2010.
Much of the credit is given to c.bank governor Augustin Carstens (above)...recently nominated for the top IMF post.
AND: C. Bank governor Carstens, 52, may be preparing the ground...for a future run.
He has only won one endorsement...from Uruguay.
“He’s trying to carve out a space for emerging markets and let people know who he is,” said an observer.
“He’s all of a sudden become a household name in this community. Maybe five years from now the world will think that maybe it will be Carstens’ turn.”
http://www.bloomberg.com/news/2011-06-02/carstens-heads-to-brazil-in-lagarde-s-wake-as-campaign-for-imf-chief-flags.html
